In these final days of the Biden Administration, we need your help to land a historic agreement on fossil fuel finance that Trump will be unable to undo.

In the next 10 days, the Biden Administration has a critical opportunity to land a ‘Trump-proof’ agreement which would end up to $41 billion USD in export finance for fossil fuels at the Organisation for Economic Co-operation and Development (OECD). Export Credit Agencies are the world's largest international public financiers of fossil fuels, but this month, the Biden Administration has the opportunity to change that. 

During the second week of COP29, from November 18th, all OECD countries will meet in Paris to discuss an agreement that would prohibit export financing for the entire fossil fuel value chain. This proposal has already been championed by the EU, UK, Canada, Norway, and most recently, Australia, but needs the US's approval this year before it can be agreed. 

In 2021 at COP26, Biden promised to end international public finance for fossil fuels and driving negotiations at the OECD when the Administration signed onto the Clean Energy Transition Partnership. In the final moments of the administration, Biden must turn these words into action and cement his climate legacy by agreeing to end export finance for fossil fuels at the OECD. 

If agreed, the proposal would be ‘Trump-proof.’ It could only be undone by all the negotiating countries agreeing - a new Trump Administration would not be able to undo this agreement and under World Trade Organisation rules, would be forced to adhere to it.

How can you help? 

We are asking all people within the climate movement with any contacts to the White House or Treasury to reach out and ask that this administration fulfills its promises. Key decision makers include: Jeff Zients, Jake Sullivan, Jake Levine, Alexia LaTortue and John Podesta. 

For those attending COP 29 in Baku, we also ask that you bring this up during any meetings with Climate Envoys or Heads of Delegation in allied OECD countries (see list above) asking them to call friendly contacts to help raise pressure on the US. You can find a pitch to copy and paste, along with more information, about Biden’s last chance to act, here. 

You can also amplify this ask on LinkedIn here. 

Similarly, if you are meeting any high-level officials at COP, please pass on this request to White House and Treasury staff requesting that they make an agreement at the OECD. 

Please reach out to Nina at nina@priceofoil.org if you need any more information. Thank you!

Allie